IEX drops 6%, IPOs freeze, Copilot doubles

CERC’s draft notification introducing market‑coupling, creating a single, uniform electricity price across exchanges, threatens IEX’s price‑discovery edge. The news pushed IEX’s stock about 6% lower to Rs 127.36, sparking worries about its revenue outlook.

The West Asia war triggered a sharp pullback in India's mainboard IPO market, with May seeing no listings for the first time since March 2025. In contrast, the SME segment kept raising funds, hitting a record ₹10.96 trillion in FY26, indicating investors are shifting to smaller, selective offerings.

In an interview, longtime Tata Group veteran Farokh Subedar, a close adviser to Noel Tata, argues that a public listing of Tata Sons would force approval from external shareholders for large, long‑gestation investments like Air India and Tata Electronics, creating uncertainty and risking the group’s ability to fund such projects. He cautions that the loss of private privilege could undermine confidence among depositors and lenders.

Tata Consultancy Services, Infosys and Wipro have raised their Microsoft Copilot licences to roughly 300,000, doubling the count in six months and covering about a fourth of their combined 1.15 million staff. Executives say the AI boost reshapes operating models and productivity, but the rapid rollout also sparks questions about Microsoft’s billing model and hiring practices in India’s $315‑billion outsourcing industry.

Tata Sons pumped just under ₹3,000 cr into Tata Digital at a $10.3 bn valuation, marking a 5.5% markdown from the February round. The downgrade comes as Noel Tata pressed for a clear roadmap for the loss‑making digital venture, which has amassed roughly ₹17 tn in losses despite over ₹26 tn of investments.

The article argues that India’s post‑independence continuity of democratic institutions, bureaucracy and peace kept growth modest, while China’s chaotic communist upheavals delayed development until market reforms spurred a manufacturing‑led surge. These institutional differences explain why China vaulted into wealth while India fell behind.

The RBI's Monetary Policy Committee meeting on June 5 is expected to keep the repo rate unchanged at 5.25%, as policymakers weigh higher oil‑driven inflation against slowing growth and capital outflows. While global tensions could push prices higher, the central bank favours a wait‑and‑watch stance for now.

India's central and state governments collected ₹1.94 trillion in GST in May, a 3.2% rise year‑on‑year. After stripping out a one‑time ₹10,000‑crore telecom spectrum payment, the adjusted collection shows a 9% increase, indicating continued consumer and business resilience despite global uncertainties.

An Indian Express investigation revealed HDFC Bank paid about ₹45 crore of extra interest to Maharashtra State Road Development Corp by disguising the payout as marketing and sponsorship for a road‑safety campaign, violating RBI and internal governance norms. The scheme was approved by senior leadership and surfaced after the bank’s chairman resigned over ethics concerns.

A recent analysis of Tamil Nadu Chief Minister C. Vijay’s wealth shows that over half of his ₹624 crore resides in bank deposits and real estate, with virtually no equity. The piece argues that for India’s affluent, a no‑equity, fixed‑income‑focused portfolio can match or beat stock market returns while avoiding market volatility.